Looks like we'll get our answer soon from a technical perspective.
Note the consolidation zone shown in red before mark-up.
Stochastics heading to the oversold zone and so in around 2-3 trading days we'll see what strength is in the buyers.
The trigger point mark-up will likely coincide with the MACD cross shown in the red circle.
If 19.5c fails it will test support at the upper level of the previous consolidation zone.
With the imminent drill results and secondly the JORC upgrade i'd be suprised to see it marked down. Can't see how a 1m oz resource with an upgrade likely to 1.3-1.5m oz has been priced into a 30m market cap. That said, stranger things have happened.
Finally this is attributing zero value to the lithium tenements which obviously isn't entirely accurate considering the finance drawn again one of those projects.
I''ve got a very tight stop loss on a portion of my holding. i.e. a break of 19.5c will trigger a centrepoint sell with the intent of rebuying for the same amount at 15-17c. Just my way of playing the ebbs and flow to increase exposure for the same capital risk.
SF2TH
MTC Price at posting:
20.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)